Millennium Management Reduces $17M in Assurant, Inc. ($AIZ)
Millennium Management reduced its stake in Assurant, Inc. by 19.4%, according to its latest 13F filing.
Key Points
- Millennium Management reduced its stake in Assurant, Inc. by 19.4%, cutting 62,675 shares to 259,560, worth $68.5 million.
- Assurant, Inc. has a market cap of $12.96 billion, a P/E ratio of 13.4, and operates in the insurance sector.
- Analysts maintain a strong buy consensus on Assurant, with a mean price target of $283.83 from 6 opinions.
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Millennium Management has reduced its holdings in Assurant, Inc. (NYSE: AIZ) by 19.4%, according to its latest filing with the SEC. The fund cut its position by 62,675 shares, leaving it with 259,560 shares valued at approximately $68.5 million as of the reporting period.
Millennium Management vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
What Changed in Millennium Management's Assurant Position
Millennium Management trimmed its stake in Assurant from 322,235 shares to 259,560 shares, a decrease of 19.4%. The shares are now valued at about $68.5 million. This reduction was disclosed in the firm's most recent 13F filing with the SEC, reflecting the fund's holdings as of the end of the reporting period.
Other Institutional Activity in Assurant
Several other institutional investors also made changes to their Assurant holdings. Bank of New York Mellon Corp reduced its position by 223,396 shares, ending with 4,816,951 shares valued at approximately $1.05 billion, a 4.4% decrease. BlackRock, Inc. cut its stake by 29,814 shares to 3,945,876 shares, valued at about $859.5 million, a 0.7% decrease. T. Rowe Price Investment Management, Inc. reduced its holdings by 349,815 shares, leaving it with 3,272,043 shares worth around $712.7 million, a 9.7% decrease. Meanwhile, Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both opened new positions with 3,243,504 and 3,008,137 shares respectively, valued at $706.5 million and $655.2 million.
Assurant, Inc. Stock Down 5.6%
Shares of NYSE:AIZ traded near $264.01 on Wednesday. Assurant, Inc. has a market capitalization of $12.96 billion and a P/E ratio of 13.4. The company's stock has a beta of 0.569, indicating lower volatility compared to the market. It has a 52-week range between $183.39 and $265.66, with a 50-day moving average of $243.06 and a 200-day moving average of $228.48.
$AIZ stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Assurant reported revenue of $13.16 billion, with a growth rate of 11.3%. The company's net margin stands at 7.6%, and it has a return on equity of 18%. Earnings per share were $19.52. The next earnings report is expected on August 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 11.3%. Revenue beat estimates by 2.9%.
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Profit surprise
EBITDA missed by 17 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 upgrade, 5 target raises.
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Earnings quality
Gross margin up 2.9 points. Operating margin up 3.8 points. Positive free cash flow.
Earnings Call Summary
Assurant delivered its strongest quarter in company history, with Global Lifestyle earnings jumping 20 percent and Connected Living up 18 percent. The company added 4 million mobile device subscribers during the quarter, bringing total devices protected to nearly 69 million globally. Management highlighted successful partnerships with T-Mobile, Xfinity, and Verizon, plus expansion of reverse logistics services that processed 7.5 million devices in the quarter.
Guidance Assurant raised its 2026 outlook and now expects Global Lifestyle earnings to grow about 10 percent for the full year. The company also increased share repurchase plans to $300 million to $350 million. Management expects Global Housing earnings to decline only modestly when excluding catastrophes and prior year reserve adjustments.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Assurant pays an annual dividend rate of $3.52, yielding 1.35%. The dividend payout ratio is 17.22%, suggesting a conservative approach to profit distribution.
Insider Buying and Selling at Assurant, Inc.
Recent insider transactions at Assurant include sales by Robert Lonergan, EVP and CSTO, who sold 7,000 shares at an average price of $262.71 on June 22, 2026, under a Rule 10b5-1 plan. Dimitry Dirienzo, SVP, CAO, and Controller, sold 2,000 shares at $255.68 on May 26, 2026. On the buy side, several insiders, including Lynn Blake, Elaine Rosen, Rajiv Basu, and Paul Reilly, each acquired 668 shares on May 22, 2026.
Analysts Set New Price Targets
On June 17, 2026, Truist Securities maintained a buy rating on Assurant with a price target of $310. Piper Sandler also maintained a buy rating with a $290 target on May 26, 2026. Morgan Stanley upgraded the stock to a buy with a $285 target on May 14, 2026. The consensus among analysts is a strong buy, with a mean price target of $283.83 based on 6 analyst opinions.
About Assurant, Inc.
Assurant, Inc. is a financial services company that provides protection services for connected devices, homes, and automobiles across North America, Latin America, Europe, and the Asia Pacific. It operates through its Global Lifestyle and Global Housing segments, offering mobile device solutions, extended service contracts, and various insurance products. Headquartered in Atlanta, Georgia, Assurant is led by CEO Keith Warner Demmings and employs approximately 14,800 people.
Bottom Line
Millennium Management's decision to reduce its stake in Assurant, Inc. by nearly 20% is a notable move in the insurance sector. While the firm's latest 13F filing offers a backward-looking view, it provides insight into institutional sentiment. Assurant remains a strong buy among analysts, with favorable price targets reflecting confidence in its market position.
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